SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for Banro (BAA)
SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of Banro (AMEX: BAA) since the stock closed above $1.91.
Yesterday, this company traded 111,793 shares, versus the previous day's total volume of 186,400. Heavy volume increases the reliability of this bullish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Banro on October 30, 2009 at $2.17 per share (10.6% return since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.
Write to Chip Brian at cbrian@tradethetrend.com
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